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The map and the territory : risk, human nature, and the future of forecasting
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ISBN: 9781594204814 Year: 2013 Publisher: New York Penguin


Book
Political bubbles
Authors: --- ---
ISBN: 1400846390 0691145016 0691165726 9780691145013 9781400846399 Year: 2013 Publisher: Princeton Princeton University Press

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Abstract

Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future. The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.


Book
The clash of generations : saving ourselves, our kids, and our economy
Authors: ---
ISBN: 0262526107 0262016729 9786613594488 0262301555 1280499257 9780262301558 9781280499258 9780262016728 0262300796 9780262526104 Year: 2012 Publisher: Cambridge, Mass. : MIT Press,


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The great recession
Authors: --- ---
ISBN: 1610447506 0871544210 9781610447508 9780871544216 Year: 2011 Publisher: New York : Russell Sage Foundation,


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Plunder and blunder : the rise and fall of the bubble economy
Authors: ---
ISBN: 0981576990 9786613146656 1283146657 160994478X 9781609944780 9781609944797 1609944798 9780981576992 Year: 2010 Publisher: Sausalito, Calif. : PoliPointPress,

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For the second time this decade, the U.S. economy is sinking into a recession due to the collapse of a financial bubble. The most recent calamity will lead to a downturn deeper and longer than the stock market crash of 2001. Dean Baker's Plunder and Blunder chronicles the growth and collapse of the stock and housing bubbles and explains how policy blunders and greed led to the catastrophic-but completely predictable-market meltdowns. An expert guide to recent economic history, Baker offers policy prescriptions to help prevent similar financial disasters.


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The predator state : how conservatives abandoned the free market and why liberals should too.
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ISBN: 141656683X 9781416566830 Year: 2008 Publisher: New York Free Press


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The crisis of neoliberalism
Authors: ---
ISBN: 9780674049888 0674049888 0674059301 Year: 2011 Publisher: Cambridge New-York : Harvard University Press,

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This book examines "the great contraction" of 2007-2010 within the context of the neoliberal globalization that began in the early 1980s. This new phase of capitalism greatly enriched the top 5 percent of Americans, including capitalists and financial managers, but at a significant cost to the country as a whole. Declining domestic investment in manufacturing, unsustainable household debt, rising dependence on imports and financing, and the growth of a fragile and unwieldy global financial structure threaten the strength of the dollar. Unless these trends are reversed, the authors predict, the U.S. economy will face sharp decline. Summarizing a large amount of troubling data, the authors show that manufacturing has declined from 40 percent of GDP to under 10 percent in thirty years. Since consumption drives the American economy and since manufactured goods comprise the largest share of consumer purchases, clearly we will not be able to sustain the accumulating trade deficits. Rather than blame individuals, such as Greenspan or Bernanke, the authors focus on larger forces. Repairing the breach in our economy will require limits on free trade and the free international movement of capital; policies aimed at improving education, research, and infrastructure; reindustrialization; and the taxation of higher incomes.


Book
After the music stopped : the financial crisis, the response, and the work ahead
Author:
ISBN: 9781594205309 9780143124481 Year: 2013 Publisher: New York Penguin press

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